Cronos Group Inc confirmed it is in talks with potential buyers to explore a sale of the company after Reuters reported on the talks.
Cronos is working with a financial adviser to handle expressions of interest in a deal from other companies, including U.S.-based peer Curaleaf Holdings Inc, according to people familiar with the matter.
The sources requested anonymity because the discussions are confidential, and they cautioned that no transaction is certain.
Curaleaf, however, refrains from commenting on the rumors. "At the request of IIROC, Curaleaf Holdings, Inc. responds to speculation published in the media regarding the possibility of a transaction involving the company. The company's policy is to refrain from commenting on market rumors. The company does not intend to make further comment unless required by law."